Dale purchased the following blocks of Westgate Stock Date June 12, 2019 October 21, 2019 December 18, 2021 Shares 1,220 1,950 1,700 a Long-term gain bLong-term gain bShort-term loss Required: a. Dale sold 1,800 shares of the stock on November 20, 2022, for $5.00 per share for a total of $9,000. Using the first-in, first-out method, determine the gain or loss on the sale of the Westgate stock. b. Using the specific identification method, what is the gain or loss on the sale of the Westgate stock if 820 of the shares sold were identified as being from the October 21, 2019, purchase and the remaining 980 shares from the December 18, 2021, purchase? Note: Do not round intermediate computations. Price $ 4.00 $4.20 $5.20 Amounts

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Mamuțelerăit puiul de om

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Each of the following situations involves possible violations ofthe AICPA Code of Professional Conduct. For each situation, state whether it is a violationof the Code. In those cases in which it is a violation, explain the nature of the violationand the rationale for the existing rule.a. The audit firm of Miller and Yancy, CPAs, has joined an association of other CPAfirms across the country to enhance the types of professional services the firm canprovide. Miller and Yancy share resources with other firms in the association,including audit methodologies, audit manuals, and common IT systems for billingand time reporting. One of the partners in Miller and Yancy has a direct financialinterest in the audit client of another firm in the association.b. Bruce Sullivan, CPA, is the audit partner on the engagement of Xylium Corporation,which is a public company. In structuring the agreement with the audit committeefor the audit of Xylium’s financial statements, Sullivan included a clause that…

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